Foresight Bank Mortgage Rates, Fees & Info

Plainview, MN

LEI: 549300URHBBJ2KIQ3616

Tax ID: 46-1257779

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Mortgage Data

Review & Overview

Foresight Bank is a smaller bank specializing in Home Purchase loans. Foresight Bank has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Winona, Minneapolis, Austin, and Nashville among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Foresight Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

136

Origination Dollar Volume (All Markets)

$38,750,000

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
ROCHESTER, MN (FHA|USDA|VA) 112 $28,320,000 $252,857 $0 0.00%
Winona, MN (FHA|USDA|VA) 3 $4,255,000 $1,418,333 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 4 $1,750,000 $437,500 $0 0.00%
Outside of Metro Areas 3 $955,000 $318,333 $0 0.00%
Austin, MN (FHA|USDA|VA) 6 $790,000 $131,667 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $645,000 $645,000 $0 0.00%
Red Wing, MN (FHA|USDA|VA) 2 $550,000 $275,000 $0 0.00%
ST. CLOUD, MN (FHA|USDA|VA) 1 $495,000 $495,000 $0 0.00%
Brainerd, MN (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
Menomonie, WI (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
DULUTH, MN-WI (FHA|USDA|VA) 2 $210,000 $105,000 $0 0.00%
Foresight Bank's top markets include Rochester, Winona, Minneapolis, Austin, and Nashville among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 136 $38,750,000 $284,926 $0 0.00%

    For 2023, Foresight Bank's most frequently originated type of loan was Conventional, with 136 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 117 $35,855,000 $306,453 $0 0.00%
    Refi 9 $1,325,000 $147,222 $0 0.00%
    Home Improvement 7 $565,000 $80,714 $0 0.00%
    Other 3 $1,005,000 $335,000 $0 0.00%

    For 2023, Foresight Bank's most frequently cited loan purpose was Home Purchase, with 117 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 136 $38,750,000 $284,926 $0 0.00%

    For 2023, Foresight Bank's most frequently cited loan duration was Other, with 136 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 59 $16,405,000 $278,051 $0 0.00%
    $100k-200k 34 $5,350,000 $157,353 $0 0.00%
    $100,000 or less 22 $1,510,000 $68,636 $0 0.00%
    $400k-600k 16 $7,730,000 $483,125 $0 0.00%
    $600k-1MM 3 $2,175,000 $725,000 $0 0.00%
    $1MM+ 2 $5,580,000 $2,790,000 $0 0.00%

    2023 saw Foresight Bank place emphasis on $200k-400k loans with 59 originations, totaling $16,405,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 36 $9,090,000 $252,500 $0 0.00%
    $150k-250k 20 $6,310,000 $315,500 $0 0.00%
    $50k-75k 19 $3,715,000 $195,526 $0 0.00%
    $250k+ 13 $4,335,000 $333,462 $0 0.00%
    $75k-100k 12 $3,190,000 $265,833 $0 0.00%
    $50k or less 6 $660,000 $110,000 $0 0.00%

    Foresight Bank lent most frequently to those with incomes in the $100k-150k range, with 36 originations. The second most popular income band? $150k-250k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 136 $38,750,000 $284,926 $0 0.00%

    Foresight Bank lent most frequently to those with DTI ratios of Exempt%, with 136 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 102 $26,430,000 $259,118 $0 0.00%
    Not applicable 30 $11,450,000 $381,667 $0 0.00%
    Asian 3 $615,000 $205,000 $0 0.00%
    Not provided 1 $255,000 $255,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.69%

    Foresight Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    92.65%

    Foresight Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 136 $38,750,000 $284,926

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    136 $38,750,000 $284,926